PSC OKs Extension For Implementation Of New Purchase of Receivables (POR) Program, Sets Date For Filing of Final Discount Rate, Tariffs

The District of Columbia PSC has granted a request to extend the implementation date for Washington Gas Light Company’s new Purchase of Receivables (POR) program until the final POR discount rates and tariff pages have been approved.

"To avoid unnecessary delays in the program implementation, the parties are directed to file final discount rates and proposed tariffs by September 28, 2018," the PSC directed

The Retail Energy Supply Association has sought to delay implementation to discuss and reach an agreement on the discount rate

As previously reported, under a WGL filing, the POR discount rate for WGL D.C. customers was proposed to be as follows:

• Residential: 7.4743%

• Commercial: 1.9157%

The PSC stated, "The POR program was approved in October 2017, giving the parties sufficient time to agree on an implementation timeframe and mechanism. Further, the parties have reported that they have been in discussions for several months about the appropriate POR discount rate to ensure that the POR program attains its goals of furthering retail natural gas competitive markets and bringing benefits to District customers. As RESA indicates, the parties anticipate that they can arrive at a final solution that works for all stakeholders. The Commission would like the POR program to be implemented, given its approval nearly one year ago. To avoid unnecessary delays, the Commission directs the parties to file final discount rates and proposed tariffs by September 28, 2018."